StockNews.com Lowers Silgan (NYSE:SLGN) to Hold

StockNews.com downgraded shares of Silgan (NYSE:SLGN) from a buy rating to a hold rating in a research report report published on Wednesday.

A number of other equities research analysts have also recently weighed in on SLGN. Citigroup lifted their price target on shares of Silgan from $50.00 to $60.00 and gave the company a buy rating in a research report on Thursday, August 1st. Royal Bank of Canada boosted their target price on Silgan from $51.00 to $55.00 and gave the company an outperform rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. upgraded Silgan from an underweight rating to a neutral rating and raised their price target for the stock from $46.00 to $53.00 in a research report on Thursday, August 1st. Wells Fargo & Company boosted their price objective on Silgan from $54.00 to $58.00 and gave the company an overweight rating in a report on Thursday, August 1st. Finally, Robert W. Baird raised their target price on Silgan from $53.00 to $60.00 and gave the company an outperform rating in a report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $57.00.

Silgan Stock Up 1.3 %

SLGN stock opened at $51.57 on Wednesday. Silgan has a one year low of $38.11 and a one year high of $52.84. The firm has a market cap of $5.51 billion, a PE ratio of 18.09, a PEG ratio of 1.48 and a beta of 0.67. The firm’s 50 day moving average price is $50.68 and its 200-day moving average price is $47.76. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.64 and a current ratio of 1.06.

Silgan (NYSE:SLGN) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.87 by $0.01. The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. Silgan had a return on equity of 19.22% and a net margin of 5.24%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.83 EPS. On average, equities research analysts anticipate that Silgan will post 3.66 EPS for the current year.

Silgan Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.19 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.47%. Silgan’s payout ratio is 26.67%.

Insider Activity

In other news, VP Stacey J. Mcgrath sold 1,600 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $49.04, for a total transaction of $78,464.00. Following the completion of the transaction, the vice president now directly owns 11,495 shares of the company’s stock, valued at approximately $563,714.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.39% of the company’s stock.

Hedge Funds Weigh In On Silgan

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLGN. Blue Trust Inc. increased its position in Silgan by 256.6% during the second quarter. Blue Trust Inc. now owns 592 shares of the industrial products company’s stock worth $25,000 after buying an additional 426 shares during the period. Versant Capital Management Inc grew its holdings in shares of Silgan by 2,838.5% during the second quarter. Versant Capital Management Inc now owns 1,146 shares of the industrial products company’s stock worth $49,000 after buying an additional 1,107 shares during the last quarter. GAMMA Investing LLC raised its stake in Silgan by 109.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,171 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 613 shares during the last quarter. Covestor Ltd lifted its holdings in shares of Silgan by 69.7% during the first quarter. Covestor Ltd now owns 1,125 shares of the industrial products company’s stock worth $55,000 after purchasing an additional 462 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Silgan in the 2nd quarter worth $70,000. 70.25% of the stock is owned by institutional investors and hedge funds.

Silgan Company Profile

Silgan Holdings Inc, together with its subsidiaries, manufactures and sells rigid packaging solutions for consumer goods products in the United States and internationally. It operates through three segments: Dispensing and Specialty Closures, Metal Containers, and Custom Containers. The Dispensing and Specialty Closures segment offers a range of metal and plastic closures, and dispensing systems for food, beverage, health care, garden, home, personal care, beauty products, and hard surface cleaning products, as well as capping/sealing equipment and detection systems.